All Forum Posts by: Terri Lewis

Sounds to me like he is trying to have the American dream. His family in the nice home he is able to provide for them. I would also think he would be a legal citizen since he has his SS#, and if she is married to him would make her legal also. We did have a factory here though, that had 6 people using the same SS#. When they were raided the place also got into trouble because of that. That has nothing to do with renting, but it is something the illegals do around me. There are many that work hard to get their citizenship, and work hard to give their family here a good life, and help the loved ones back home. For some reason most foreigners that come to America, seems to be motivated to achieve. I would let them have it. Since he has passed and will be the one making the payment. 

Not looking at the house before making an offer could be a disaster. We thought we found one that was really close to the number we would want to offer. The home owner was asking $60k, and we figured we could make on offer on it for around $45k. ARV should nave been around $85k. When we went and looked at it, it was barely worth an offer of $10k. It needed more than a wall put in to turn it back into a 2 unit and a coat of fresh paint. Both furnaces were gone, needed foundation and brick repaired. roof was bad, I cold go on for a while over how bad of shape it was in.

I have shot for the stars but feel I've landed on the mountain. I really have come a long ways but not nearly where I wanted to be at this time. I still have so much to learn, even though I've learned a lot more than I knew when I started. My goals have only changed in the way of larger goals on the financial side and delegating plans for operation side. These changes I am planning to accomplish through the growth, and the changes in operations will increase income potential even more. That's also where I get a little mixed up. Which should come first, and learning to delegate the things I do or keep working long hours to gain money for the fix and flips. We have been shifting more of the field work to our subs and it has helped considerably. I ended up helping a lot due to the distance of one of the properties we were working on. We now have that wrapped up and I'm back mostly in the office. We got so busy on the preservation side of our business that  I feel the flipping side of it was put off. Now I am able to find time and interact on BP again, read and learn as much as I can. Also have time to pursue what I need for the property we want to flip. Good thing about the last few months is we made quite a bit of money to put towards the fix and flips.

We have a few new clients that do not request emergency contact information to be placed on the properties in a highly visible location. I have asked the one about having something and was just told they don't do that. We have always believed it was a good practice, so if an emergency arises there is a contact person to get a hold of quickly. I understand it doesn't look good and sometimes brings unwanted calls. 

What is your thoughts on emergency postings. Should I try to push or encourage this?

We have done literally 100's of trash outs. The ones I dislike seeing are the ones with tons of children's toys. One had a 12'x12' room with organized tubs stacked 3 high, and another room 5x10 with shelves of new toys never opened. For this place we let the client know we were calling Salvation Army to donate. The stuff filled half the truck to the ceiling. There are a few temporary housing facilities for displaced families we donate to also. Children's clothes and toys. After knowing of a meth house, I am going to be leery donating. We really don't know what has gone on in these homes before we get them. I always do let them know the items are from an abandoned home. Hoping they will thoroughly clean the items, but also hoping we are helping out a needy family.

We have also found dead cats and dogs. A few rabbits, squirrels, lots of mice. Half buried dog. That place was a dump from front to back of 3 acre property. They must have never had a trash service and just took their trash bags out in the back hoping it would decay. One house had a large living room and dining room filled with empty pizza boxes and 2 liter bottles. The whole main floor was paths through that and good items. One house was filled with dog sh**. That was after another company did a trash out. 

Most of the homes have crutches, and medicines from the prior owner. Those I feel for, but the ones where we find all kinds of boxes from new electronics I do not. 

We have removed so many free weights and exercise equipment. It was funny the other day looking at a property to rehab, and saw 2 weight sets in front of the garage. The neighbor came over offering to move her truck out of the drive. She also said the weights were one of her subs and asked if we wanted them. It didn't take long to get a no out of both me and my partner. Interesting to run into another person that does what we do right next to an abandoned property. lol don't care to move weights around any more than necessary. Have had enough of carrying them up from basements in many houses. One house had lots of dildos and sex toys, objects and S&M costumes. That was difficult due to mixed company and all the ugh, and giggles that was going on each time more was found. 

I am curious if this is common in a Morman home, what is the purpose of keeping the water? I would have thought an apocalyptic plan by the home owners too. Or the making of some type of drink. 

I agree with everyone above. Once in a while I see properties that are accurate, but most of the time the information found on Zillow is not up to date on the listings. I've had Realtors complain about them and Trulia. I just do the due diligence and contact a local Realtor to find out what they feel the market is for the property if they have the knowledge on it. I will use zillow, Trulia, Homesnap to help average out my findings in markets I am not knowledgeable in.

Looks great! Thanks for sharing. 

Thanks for the information I see why we have not been successful with our HUD offers. We can get making them with your advise, and eventually get one at our figure.

Also since we do property preservation, I would like to learn how to purchase them.  I am not sure how to go about making an offer. Some of the pre foreclosures are underwater, or the balance owed is more than what we would want to pay. When you do make offers on them, do you use the 65 or 70% rule, and what ever the right purchase price is, go with that? Or do you start out a little lower to get there attention. As if they will probably not accept the offer and be pleased with a slightly higher one later.